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Market Review:
BTC: Market Analysis
After breaking the historical high, BTC's daily chart experienced significant selling pressure, with a total drop of over ten thousand points. It is very normal for a bull market to have multiple retracements. Currently, the price has fluctuated around the 66000 level, and it is advisable to continue to be bullish on the daily chart. In the short term, after a rapid decline below the support level, the price quickly picked up. The KDJ three lines are showing a potential golden cross above the 50-axis, and the bearish momentum of the MACD is rapidly decreasing. Therefore, in the short term, attention should be paid to the support near 64500 on the four-hour chart to continue to establish long positions.
The current price on the daily chart is experiencing a normal pullback after attempting to break the previous high of 69000. The moving averages on the daily chart continue to align upwards, and the short-term support has moved up to around 63800. The overall pullback range for the daily chart layout can be expanded slightly. The Bollinger Bands on the four-hour chart are widening, the KDJ three lines are crossing downwards, and the bullish momentum of the MACD is gradually shrinking. There is a demand for price retracement to find support on the four-hour chart. The short-term downtrend on the one-hour chart is very obvious, and the price will further test the support level of 65000. Overall, it is advisable to go long on the BTC pullback.
BTC Operation Suggestions:
Long on pullback to 62500-62800
Suggestions are for reference only, please make your own decisions.
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